Fees & Charges Schedule

Fees & Charges Schedule

Interest Rate Schedules

Interest Rate Schedules

The products you have with LACC will be replaced by Dnister products with similar features in all material respects, although the product names may be different. It’s important for you to read and understand the changes and how they may impact on you to ensure a smooth transition. After the systems integration has been completed, you will be able to request a change to a different product that may better suit your individual needs.

The transfer of all membership and account details, including account balances, is scheduled to occur on Friday 9th December 2016. After that date, your previous LACC membership and account details will no longer be valid. From 10th December 2016, members will be transacting on Dnister’s banking platform utilising new membership, BSB and account numbers and have access to our full range of products and services, providing more flexible banking options and enhanced features.

Your primary details and balances will be automatically transferred to Dnister. There will changes to the particulars of your membership number, account numbers and BSB. You will need to be aware of these changes and take appropriate actions as outlined in the following points.

Your new BSB number will be 704-235. During the integration process, the Dnister system will allocate unique new account numbers to replace all LACC Transaction, Savings, Investment and Loan Accounts. We will advise you of your new account numbers as soon as they become available.

Members who have current direct debits and credits to their LACC accounts will need to advise the debiting or crediting parties of the new BSB number 704-235 and their new account numbers (when available) effective from 10th December 2016. This will ensure a smoother transition of automated payments. During a transition phase however, Dnister will maintain a process for any automated payments that are still directed to old Latvian BSB and account numbers to be redirected to your new Dnister account. The funds will therefore still be processed to your new Dnister accounts.

LACC will issue you a transactional statement as at 9th December 2016. This will be your last statement advice from the LACC system. All transactions that have occurred in your accounts will be reflected on this statement from 1st December till 9th December 2016. At the end of the month – 31st December – you will receive your first statement from Dnister. Note that this statement period is from 10th December 2016 until 31st December 2016. For historical statements prior to the system integration, please contact our office. Members will initially be on a monthly statement cycle, however this may change to 6 monthly statements to minimise or avoid any charges. We also encourage you to register for eStatements, so please contact us if you would like more information.

During the system integration, your LACC Tax File Number status will be automatically attached to your Dnister accounts. Please note that if you have not provided a Tax file Number or valid exemption in the past, your account may be subject to withholding tax requirements. Please contact us if you have any queries or require assistance.

All LACC members’ home, investment, personal and commercial loans, reverse mortgages and continuing credit facilities will transfer over to Dnister with the same terms and conditions as per their current loan contracts. Due to the accounts being transferred into a different banking system however, small variations may arise due to timing issues such as interest charging and repayment schedule calculations. Interest will continue to be calculated daily but will be charged at the end of the month rather than the anniversary date of the loan funding. For interest only loans, the payment due date will be the 1st of the month rather than the anniversary date of the loan funding. We don’t anticipate that these variations will have a material impact on accounts and will work with members to alleviate any concerns that may arise. We encourage you to contact us if you have any queries in relation to these accounts once they have transferred across to our system.

All members who have a cheque book facility with LACC will be issued with a new cheque book containing 25 Cheques. These will be automatically ordered for you to ensure you have access to the facility. Higher volume cheque books are available from 10th December 2016, these range from 25 cheques to 200 cheques.

For your existing cheque book facility with LACC, you will need to destroy (or return to LACC) any blank cheques that have not been issued by 9th December 2016 as they will no longer be valid. You will remain liable for any cheques issued on your LACC account that have not been presented by 9th December 2016. We will redirect those cheques to your new account when presented.

All LACC term deposit accounts will automatically transfer over to Dnister under the same terms and conditions and renewal date. Prior to the renewal date, you will receive a reinvestment form containing the proposed new interest rates and terms and conditions of investment.

This form will need to be completed by you as formal instruction of how you would like to reinvest your funds. If you do not advise us of how you would like to reinvest your funds, the lodgement will roll over automatically for the same term at the interest rate current at the time of roll over.

Under Dnister’s Constitution, all types of members, whether you are an individual, company or organisation, are entitled to 1 affinity membership shareholding. If you currently hold a membership with LACC and also have a membership with Dnister, we will merge the memberships into one and refund the other $10.00 share where applicable. In those instances, we will provide confirmation to you in writing.

The LACC system required joint memberships for joint account holders but the Dnister Constitution does not have this requirement. That is, individual Dnister members can jointly be accountholders. For those LACC members holding a joint membership, you will initially transfer across the same way and adjustments will be made after the system integration. In those instances, we will provide confirmation to you in writing.

LACC Junior members will initially transfer across to Dnister with the $10.00 share status. Dnister’s Constitution states that junior members hold 1 share of $2.00 – not 5 shares totalling $10.00 – and a refund of 4 shares totalling $8.00 will be made after the system integration. In those instances, we will provide confirmation to you in writing.

If you are currently a signatory on an account but not a member of LACC, you will be transferred to a Dnister signatory membership category. If we require any additional information from you, we will contact you directly.

For your convenience, we have also enclosed our current Fees and Charges Schedule and Interest Rate Schedule. These change from time to time and members will be advised in accordance with our Financial Services Guide and Product Disclosure Statement.

The new products and services you will have access to

Dnister looks forward to providing you with our extensive range of products and services that will be made available to you soon after the system integration date.

These include a special edition Latvian Visa Debitcard, Internet Banking, CueCard (Debit Card), great Insurance products, Community support accounts and much more.

LACC members will benefit from new features which allow you to access your funds, not only in Australia, but worldwide, wherever the Maestro or Cirrus logo is displayed. You will be able to transact using EFTPOS and ATM facilities and you can use your card at participating Australia Post outlets to access account balances, deposit funds or simply to withdraw money, through Bank@Post .

Our soon to be launched Visa Debit card allows you to not only access your funds at ATM’s or through EFTPOS, you can also make purchases online and over the phone! We encourage members to review their requirements with our staff so that they can take advantage of these products and services.

Do your banking when and where you like

Online Banking

Online Banking allows you to manage your funds securely at your convenience, from anywhere in the world, at any time.

From transferring funds internally and externally, paying bills with BPAY, activating your Cuecard, accessing and storing your statements, online banking is another way to take control of your finances.

* To ensure security on your device, you may only transfer to external accounts or BPAY® to existing pre-authorised billers and accounts. New billers or external accounts require second authentication via internet banking that you need to access through your PC and second authentication secure SMS. Note that normal transfer limits apply.

Mobile Banking

Mobile Banking is a service that allows you to access your accounts using your internet enabled smartphone. The screen layout and text size has been tailored for smartphones to enable easier navigation – no more pinching and stretching!

Mobile banking is available to all members who are registered for Internet Banking. You can access popular online banking functions from your smartphone wherever you are, whenever you want.

Whether you’re on a holiday, overseas, shopping or just out and about, our Mobile Banking offers great convenience. Refer to your local carrier for respective data and roaming charges that may apply.

Great Community Banking

As a member owned financial institution we understand the importance of our role in the Community.
We are excited to expand on this to support and provide our community organisations with a product specially designed for voluntary not for profit community organisations.
That’s why we have developed the Community Access Account* – a transactional access account for community groups that’s not only fee free , it can also generate valuable annual beneficiary payments to your organisation.

The Community Access Account is complimented with the Community Saver Account. Have a further look at how it works.

Dnister members can earn interest on a great new savings account whilst supporting the community at the same time.

Not only will it provide you with a great high interest savings account, Dnister will also annually contribute an additional 1.00%p.a¹ ‘beneficiary payment’ to your favourite nominated community organisation’s Community Access account.

Our Community Saver Account is a great way for you to support Dnister and in turn we can both support our wonderful community organisations – a ‘win win’ for everyone.

Great Community Support

For over 60 years, Dnister has understood the importance of nurturing the Ukrainian language and culture with our youth across Australia. In doing so, our ongoing commitment to schools over many years has not changed, and has now been extended to Playgroups.

The funding program is broken down into two sections; commitment to schools and playgroups, and commitment to students.

Dnisters commitment to Schools and Playgroups

Schools and Playgroups with an active Dnister membership are eligible to receive an annual grant. Your school or playgroup will receive the total number of students x $25.00, to be used for the support of achieving its own objectives.

In 2016 Dnister provided:

$0

Schools and Playgroup Funding

Dnisters commitment to Students

Ukrainian school students will be eligible to receive $25 into their Dnister accounts, for the promotion of their curricular activities. Students who are not active members have the opportunity to contact Dnister to sign up for membership.